Departmental Records

How do you calculate gross profit? (1) Turnover – cost of sales Expenditure - direct costs Expenses - net profit Other income - cost of sales Match it! Match each part of the income statement with what comes next Sales - cost of sales = Gross profit Gross profit - expenses = Operating profit Operating profit - interest on loans = Profit at the end of the year Profit at the end of the year - tax = Profit for the year after tax Profit for the year after tax - distributed profit = Retained profit Complete the income statement for XYZ limited operating in 2 departments, Dairy Electronics Click on the pulsing circles and enter the correct figures without the currency symbol and with no spaces between numbers and commas i.e. 123,456 258,300 144,600 124,600 84,600 64,600 200,100 96,900 76,900 51,900 41,900 Why are expenses apportioned in Departmental accounting?